JANA Partners revealed after the bell Thursday that it has acquired a 7.4 percent stake in Ashland Inc. (ASH).
Ashland gapped open sharply higher Friday and rose in early trade. The stock extended its gains around mid-afternoon and finished up by 7.83 at $86.66 on the highest volume of the year. Ashland closed challenging the highs of the year, trading at over a 2-month high.
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